Wednesday, December 5, 2007

As Murphy Oil Expands at Superior...Suppose it Becomes ExxonMobil, or Foreign-Owned?

The Wisconsin Department of Natural Resources is awaiting Murphy Oil's first expansion permitting paperwork before the end of the year, leading to what could become the biggest wetlands filling and construction project in Wisconsin history.

So along with all the environmental and commercial questions that this project will raise for northern Wisconsin, and for Lake Superior - - here's another:

What if Murphy is bought out by a foreign, state-run company, or a larger conglomerate? Do we care? Is anybody tracking the ramifications?

One expert says Murphy is a takeover target.

Will the state ask the company about its financial plans, as it assesses its capability to pull off a $6 billion expansion safely and sanely?

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